Petrobras has begun the disclosure phase of the teaser regarding the transfer of Petrobras’ stake in the Juruá field, in the Solimões basin.

Petrobras is offering 100% of its stake in Juruá field (Concession Juruá), located in the Brazilian state of Amazonas. This potential transaction is an opportunity to develop and monetize a natural gas discovery in close proximity to fields operated by Petrobras and existing infrastructure for gas processing and transfer.

The teaser contains key information about the opportunity, as well as objective criteria for the selection of prospective purchasers.

In addition to the teaser, the main subsequent phases of each divestment project will be disclosed as follows:

Start of non-binding phase (if applicable);

Start of the binding phase;

Granting of exclusivity (if applicable);

Transaction approval by senior management (executive board & board of directors) and signature of contracts;

Closing.

The disclosure is in compliance with Petrobras’ divestment procedure, which has been reviewed and approved by our Executive Board and is in line with the guidelines of the Federal Accounting Court (TCU – Tribunal de Contas da União).

Source: www.worldoil.com